Garde Capital Inc. Invests $741,000 in Omnicom Group Inc. (OMC) Stock
Garde Capital Inc. bought a new position in shares of Omnicom Group Inc. (NYSE:OMC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,000 shares of the business services provider’s stock, valued at approximately $741,000.
A number of other institutional investors have also bought and sold shares of OMC. Schwab Charles Investment Management Inc. grew its position in Omnicom Group by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,170,997 shares of the business services provider’s stock worth $97,076,000 after buying an additional 77,187 shares in the last quarter. Sigma Planning Corp grew its position in Omnicom Group by 20.4% during the second quarter. Sigma Planning Corp now owns 4,429 shares of the business services provider’s stock worth $367,000 after buying an additional 751 shares in the last quarter. Convergence Investment Partners LLC lifted its stake in Omnicom Group by 11.8% during the second quarter. Convergence Investment Partners LLC now owns 14,451 shares of the business services provider’s stock worth $1,198,000 after purchasing an additional 1,526 shares during the last quarter. Savant Capital LLC lifted its stake in Omnicom Group by 5.2% during the second quarter. Savant Capital LLC now owns 2,790 shares of the business services provider’s stock worth $231,000 after purchasing an additional 139 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in Omnicom Group during the second quarter worth about $104,000. Institutional investors and hedge funds own 98.60% of the company’s stock.
In other news, Director Linda Johnson Rice sold 489 shares of the business’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $74.32, for a total value of $36,342.48. Following the completion of the sale, the director now owns 7,777 shares of the company’s stock, valued at approximately $577,986.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter K. Sherman sold 8,310 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $74.31, for a total value of $617,516.10. Following the completion of the sale, the insider now directly owns 21,271 shares of the company’s stock, valued at approximately $1,580,648.01. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Omnicom Group Inc. (OMC) traded down $0.80 during midday trading on Thursday, hitting $73.71. The stock had a trading volume of 2,019,300 shares, compared to its average volume of 1,946,195. Omnicom Group Inc. has a 12 month low of $65.32 and a 12 month high of $88.69. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.79 and a current ratio of 0.90. The company has a market cap of $17,174.69, a price-to-earnings ratio of 14.99, a PEG ratio of 1.99 and a beta of 1.24.
Omnicom Group (NYSE:OMC) last released its earnings results on Tuesday, October 17th. The business services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Omnicom Group had a return on equity of 42.11% and a net margin of 7.72%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted $1.06 EPS. Omnicom Group’s revenue for the quarter was down 1.9% on a year-over-year basis. sell-side analysts anticipate that Omnicom Group Inc. will post 5.11 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Tuesday, December 19th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, December 18th. This is a positive change from Omnicom Group’s previous quarterly dividend of $0.55. Omnicom Group’s payout ratio is 43.82%.
Several brokerages have issued reports on OMC. TheStreet lowered Omnicom Group from a “b-” rating to a “c+” rating in a research note on Tuesday, November 21st. Argus raised Omnicom Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Credit Suisse Group lifted their price target on Omnicom Group from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Zacks Investment Research lowered Omnicom Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, Royal Bank of Canada dropped their price target on Omnicom Group from $96.00 to $87.00 and set an “outperform” rating for the company in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company’s stock. Omnicom Group has a consensus rating of “Hold” and an average price target of $84.00.
ILLEGAL ACTIVITY NOTICE: “Garde Capital Inc. Invests $741,000 in Omnicom Group Inc. (OMC) Stock” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another publication, it was stolen and reposted in violation of international trademark and copyright legislation. The correct version of this news story can be read at https://www.dailypolitical.com/2017/12/14/garde-capital-inc-invests-741000-in-omnicom-group-inc-omc-stock.html.
Omnicom Group Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
Want to see what other hedge funds are holding OMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omnicom Group Inc. (NYSE:OMC).
Receive News & Ratings for Omnicom Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Omnicom Group and related companies with MarketBeat.com's FREE daily email newsletter.